Alshaya Group, a leading Kuwaiti business conglomerate and one of the world’s leading brand franchise operators,  today (April 8) announced that it has acquired the Starbucks Greece & Cyprus licensed business, becoming the new exclusive owner and operator of the business.

It was formerly operated by Marinopoulos family and led by Managing Director, Giannis Marinopoulos, who will return to the family business. Opening in 2002, Starbucks Greece & Cyprus operates 30 stores in Greece and 18 in Cyprus and employs around 500 people.

As one of Starbucks’ largest and long-standing licensed partners across the world, since it’s first Starbucks in Kuwait in 1999, Alshaya Group now operates over 2,000 stores in 13 countries, offering the unique Starbucks experience to over one million customers every day.

Saleh Alshaya, President of Starbucks at Alshaya Group, said: "With today’s announcement, we are continuing our vision of growth for our licensed Starbucks business, and we look forward to working with our new colleagues to offer even more choice for our customers to experience their favourite Starbucks coffee across Greece and Cyprus. This is an exciting time for our business, and we look forward to a great future."

Under the new leadership of Alshaya Group’s Starbucks Greece & Cyprus Business Manager, Jacqueline Delpippo, the immediate priority is to ensure a smooth transition continue to serve Starbucks customers.

Over time, Alshaya Starbucks Greece & Cyprus will look at how the customer experience can be enhanced and look at opportunities to grow the business across the region, it stated.

Duncan Moir, President of Starbucks EMEA, said: “We are looking forward to working with Alshaya Group to bring Starbucks to even more coffee lovers across Greece and Cyprus. I’d like to thank the Marinopoulos Group for their long-standing partnership over the last 24 years."

"As one of one of the world’s leading brand franchisee operators and our largest licensed partner, Alshaya Group is well placed to take the Starbucks experience in the region to new heights and success," he added.

In his remarks, Marinopoulos: "I’d like to thank all our colleagues and customers for their support of our business since 2002 and wish Alshaya Group every success. In addition, we would like to thank Starbucks for the long-standing support, partnership and trust given to the Marinopoulos family for the last 24 years."

The new operating entity will be officially known as Alshaya Hellas SMSA in Greece, and in Cyprus the company is named Murgab Cyprus Ltd.-TradeArabia News Service